Blackstone Secured Lending Fund (NYSE:BXSL) Receives Average Rating of "Moderate Buy" from Analysts

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) has been given an average recommendation of "Moderate Buy" by the six analysts that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $31.38.

A number of research analysts have recently issued reports on the company. Keefe, Bruyette & Woods cut their price target on Blackstone Secured Lending Fund from $32.00 to $31.00 and set a "market perform" rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company dropped their target price on Blackstone Secured Lending Fund from $29.00 to $27.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. dropped their target price on Blackstone Secured Lending Fund from $33.50 to $30.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th.

Blackstone Secured Lending Fund Trading Up 0.2%

Shares of NYSE:BXSL traded up $0.05 on Monday, reaching $32.48. The company had a trading volume of 848,747 shares, compared to its average volume of 1,049,391. Blackstone Secured Lending Fund has a 52-week low of $25.89 and a 52-week high of $34.64. The firm's 50 day simple moving average is $31.45 and its 200-day simple moving average is $31.64. The firm has a market capitalization of $7.46 billion, a PE ratio of 10.25 and a beta of 0.46.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.01. Blackstone Secured Lending Fund had a return on equity of 12.49% and a net margin of 47.80%. The business had revenue of $357.76 million for the quarter, compared to the consensus estimate of $358.40 million. As a group, equities research analysts predict that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current year.

Blackstone Secured Lending Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, June 30th will be paid a dividend of $0.77 per share. The ex-dividend date is Monday, June 30th. This represents a $3.08 annualized dividend and a yield of 9.48%. Blackstone Secured Lending Fund's dividend payout ratio (DPR) is 97.16%.

Insider Buying and Selling

In other news, insider Robert J. Bass purchased 1,626 shares of the stock in a transaction on Tuesday, May 13th. The stock was bought at an average price of $30.78 per share, with a total value of $50,048.28. Following the transaction, the insider owned 17,403 shares in the company, valued at $535,664.34. The trade was a 10.31% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.10% of the company's stock.

Institutional Trading of Blackstone Secured Lending Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC lifted its position in Blackstone Secured Lending Fund by 2.3% during the 4th quarter. Tidal Investments LLC now owns 14,280 shares of the company's stock worth $461,000 after acquiring an additional 320 shares during the period. CIBC Private Wealth Group LLC lifted its position in Blackstone Secured Lending Fund by 1.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 20,189 shares of the company's stock worth $644,000 after acquiring an additional 325 shares during the period. Delphi Management Inc. MA lifted its holdings in shares of Blackstone Secured Lending Fund by 0.7% in the 4th quarter. Delphi Management Inc. MA now owns 47,745 shares of the company's stock valued at $1,543,000 after buying an additional 330 shares during the period. Chicago Partners Investment Group LLC lifted its holdings in shares of Blackstone Secured Lending Fund by 5.0% in the 1st quarter. Chicago Partners Investment Group LLC now owns 7,487 shares of the company's stock valued at $222,000 after buying an additional 357 shares during the period. Finally, Investment Partners Asset Management Inc. lifted its holdings in shares of Blackstone Secured Lending Fund by 2.0% in the 1st quarter. Investment Partners Asset Management Inc. now owns 19,710 shares of the company's stock valued at $638,000 after buying an additional 381 shares during the period. Institutional investors and hedge funds own 36.49% of the company's stock.

Blackstone Secured Lending Fund Company Profile

Blackstone Secured Lending Fund is business development company and a Delaware statutory trust formed on March 26, 2018, and structured as an externally managed, non-diversified closed-end investment Fund. On October 26, 2018, the fund elected to be regulated as a business development company (BDC) under the Investment Company Act of 1940, as amended (the 1940 Act).